Nuclear waste
management refers to storage of hazardous waste far away from public in
disposal facilities. This nuclear waste is a radioactive and toxic by-product
of nuclear weapon manufacturing, nuclear medicine, and nuclear power plants.
Nuclear waste management helps the end-users to reduce the volume of waste and
costs related to waste management of nuclear power plants by optimizing the
entire process beginning from waste collection to final disposal. The companies
in nuclear waste management offers solutions related to new builds, nuclear
power plants under decommissioning, and operating nuclear power plants.
The global nuclear
waste management market is set to witness significant growth due to increasing
energy demand in developing countries and rising population in China. According
to International Energy Agency’s (IEA) World Energy Outlook 2018, the energy
demand is expected to grow by more than 25% between 2017 and 2040. Also, the
nuclear power is expected to hold share of 15% in the total power generation by
2040. All these factors are expected to drive the nuclear waste management
market. However, rising renewable power generation is one of the major
restraints for the global nuclear waste management market.
Segmental Analysis
The nuclear waste
management market has been segmented based on application industrial,
utilities, and others. Among these applications, utility segment is the largest
segment in the nuclear waste management market due to nuclear waste generated
by nuclear power plant. In Middle East, there are new nuclear plants coming up
in order to cater to increasing energy demand.
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Key Players
The key players of
the global nuclear waste management market are Enercon Services, Inc., Veolia
Environment SA, Studsvik AB, Posiva Oy, Magnox Technologies Pvt. Ltd, Perma-Fix
Environmental Services, Chase Environmental Group, Bechtel Group Inc., Fluor,
and BHI Energy.
Regional Outlook
Region wise,
Middle East & Africa held the largest market share of the global Nuclear
Waste Management Market in 2017. there are activities going on in various
regions related to implementation of nuclear power plants. For instance, China
has been witnessing a huge investment amounting to USD 390 billion majorly
going towards nuclear power. Also, the US has been generating over 90,000
metric tons of nuclear water that needs disposal. The commercial sector in the
US, alone has generated waste more than any other country in the world.
Moreover, the US government’s nuclear weapon program has generated nuclear fuel
as well as high-level radioactive waste that accounts for about 14,000 metric
tons. All these factors are driving the nuclear waste management market in
order to manage the waste.
Scope of the Report
This research
report provides insights into various levels of analysis, such as industry
analysis and market share analysis for the leading industry competitors, along
with their profiles. It also helps in studying the target segments by providing
views on the emerging & high-growth segments. The market data comprises the
basic assessment of the competitive scenarios and strategies in the global
nuclear waste management market, including high-growth regions and/or
countries, and political and economic environments. The project report further
provides both – historical market values and pricing & cost analysis.
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